EVO Banco

EVO Banco, S.A.U. is a Spanish bank based in Madrid.

EVO Banco, S.A.U
TypeSociedad Anónima Unipersonal
IndustryFinancial services
PredecessorNCG Banco, S.A.
FoundedA Coruña, Spain (October 16, 2013 (2013-10-16))
Headquarters
Madrid
,
Spain
Number of locations
80 branches
Area served
Nationwide
Key people
José Luis Abelleira, CEO
Services
OwnerBankinter
Number of employees
590
Websitewww.evobanco.com

EVO Banco was created by NCG Banco on March 12, 2012 as a division that would operate its assets outside the autonomous communities of Galicia, Asturias and the Province of León. As part of their launch campaign it introduced its main financial product: Cuenta Inteligente.[1] In the four initial weeks EVO Banco had managed to attract 8,290 clients and 70 million euros.

First acquisition

On September 9, 2013, NCG Banco announced that it would sell the EVO Banco division to the American private equity firm Apollo Global Management for 60 million euros.[2]

On October 16, 2013 EVO Banco, S.A. was established as a subsidiary of NCG Banco, S.A.[3]

Second acquisition

In May 2019, Spanish bank Bankinter acquired Evo Banco, incorporating its 452,000 clients.[4] In September 2019, it announced that, as of October 18, only the Madrid office would remain operational.

In March 2021, it announced that, effective around May 1, it would relocate its only physical office and corporate headquarters to another location nearby.[5]

References
  1. Novagalicia ya opera fuera de Galicia con la marca EVO Bank (in Spanish)
  2. NCG Banco vende EVO a la firma de capital riesgo Apollo por 60 millones (in Spanish)
  3. https://www.boe.es/borme/dias/2013/10/16/pdfs/BORME-A-2013-198-15.pdf
  4. Alconada, Ángeles Gonzalo (2019-05-31). "Bankinter cierra la compra de EVO y su filial de consumo irlandesa por 65,8 millones". Cinco Días (in Spanish). Retrieved 2020-02-08.
  5. "EVO Banco se muda y estrenará nueva sede en mayo en el barrio Salamanca". El Español (in Spanish). 2021-03-17. Retrieved 2022-10-17.
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